The Binance exchange announced the distribution of coins received as a result of the Bitcoin Cash hard fork, which took place yesterday. The Binance team notified platform users that the recalculation will be carried out on a one-to-one basis. BCHABC or BCHSV coins will be awarded for each Bitcoin Cash coin, based on the account balance as of 16:40 on November 15, 2018. Bidding will begin on November 16 at 8:00 am.
All BCH coins on balance have been removed from user accounts, and all BCH trading pairs have been removed from the exchange listing. Deposits and withdrawals of the new coins will be available as soon as both blockchains are considered stable and usable.
Binance will not change the symbols of the new coins
The exchange's CEO Changpeng Zhao tweeted that the symbols of the new coins will not change after they are assigned to the coins on the platform. He also expressed his dissatisfaction with the forks and called them useless.
The Binance exchange also did not change the first symbol of Bitcoin Cash (BCC) to the one that appeared later (BCH), which traders have long been accustomed to on other exchanges. Some even joked that this was a real coin associated with BitConnect.
Changpeng Zhao explained on Reddit that changing the symbol is a complex process that requires the exchange to be completely shut down.
Both symbols BCC and BCH were originally used on their official website. Then they left only BCH. We will not change the symbol, since replacing the symbol will require a lot of space and data in our system and we will need to stop the exchange for several hours. We believe that this is not absolutely necessary.
According to ethereumworldnews.com
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